BUS 110 College Accounting 1
This course encompasses the complete accounting cycle including worksheets, adjusting entries, financial statements, closing entries, and reversing entries. This course covers the basic accounting principles, terms, concepts, and procedures. The course will cover the basic accounting system including the accounting equation, analyzing transactions, adjusting process, accounting cycle, accounting for retail businesses, inventories, internal control & cash, receivables, long-term assets (fixed & intangible), liabilities (current, installment notes, contingencies, and bonds payable), and accounting for partnerships and limited liability companies. They will learn basic accounting procedures and the financial statements that are used to keep management informed. They will learn how to do basic journal entries as well as correct entries. They will use both T-accounts and general journal entries. Requisites: None
Prerequisite
MTH 108